Matched Betting: Is It Dead?
So it’s hardly a new problem; account restrictions, limitations and closures (by bookmakers). Matched betting seems to have highlighted the problem for most.
But it’s getting worse. Accounts are closing faster than ever, you may have seen the Stan James account I had that lasted hours…
But it’s not over yet (especially if you’re willing to go the extra mile). And if you’re a profitable trader there is a real bonus on offer!!
Here’s what I mean….
(if you don’t know what Matched Betting or Arbing is read this article first)
Matched Betting Caused This…
Matched betting and various other bonus bagging methods has led to the bookies behaving like this. It must be tough for them as they want to keep up with the other bookmakers and their marketing campaigns.
It appears they’re now going too far though. I mean seriously; they offer a book on an event at their prices and then reduce me to 68p bets because I consistently beat them? they offered it!
Worse still you may have read articles about bookmakers sharing information on those matched betting and arbing. Several of you on twitter mentioned this, have you opened an account and been banned or limited before placing a bet? comment below!!
They’re also reported to be using programs like iesnare to monitor activity. If they’ve installed such program on your machine (to make sure you’re not money laundering) they may also be using it to see if you’re logged into Betfair at the same time as their website. Is that really right?
A couple pointed out on twitter that they don’t blame them for not wanting to business with someone who screws them on a daily basis as it must cost them a fortune.
I get that, I really do… but they started all the bonus offering and continue to run an old business model (pre-exchanges). Plus they’re hardly broke – Denise Coates Bet365 founder is a billionaire…
It amazes me how such practices are allowed to go on. Saving the best bit of the email until last…. the real insult;
“it doesn’t affect your ability to play and claim bonuses in our Gaming products”
Why not? Because you can’t win on them…
The only satisfaction I can get was it took them so long to catch me. Withdrawals for the last 3 months show a total of £12,927.30. So up yours 365…
Matched Betting Brings Massive Value To Traders…
At this point that may not make sense to you. Dave Stewart asked this question on the Facebook Page…
A completely reasonable question from Dave there and I’m sure he won’t be the only one to ask it. So here’s why…
Trading Betfair’s great… until you hit the Premium Charge, it’s a bit of a kick in the nuts as mentioned before on this blog.
So I and many others have looked for ways to reduce your own Premium Charge… there’s only really 3 possible routes;
- Addition accounts – Playing with fire big-time on this one. I’ve heard of many that have multiple accounts and have been caught, charged back and had their accounts closed. It’s not one for me.
- Increase turnover – By increasing your generated commission drastically through turnover your premium charge is reduced. Unless you’re a highly effective automation expert I doubt you’ll find a way. Especially if you’re making significant profits. The more generated commission produced the less premium charge paid as per the calculation method.
- Effective Arbitrage – By betting with a bookmaker at a price where a significant gamble is unfolding and laying off the bets on the exchange you can both win some extra money and transfer balance from your betting exchange account to the bookmaker (where you don’t pay premium charge for winning). If you don’t win the effect is rather boring as you just ping money back and forth between bookie and Betfair although it will increase you’re turnover too, as above.
Note: you’ll need to know the markets well to find the right opportunities… (especially on scale)
So you probably guessed it by now;
Outside of my trading activity I was placing value bets with Bet365 at valuable prices and covering the loss on Betfair. The end result being win-win, both through an arb (and making a loss on Betfair).
So when you think to the £12.927.30 mentioned above, only around £4,000 of that was profit. The rest had come over from Betfair.
That’s pretty awesome too, as a loss of £8,927.30 on Betfair means it’s still going in my bank, premium charge free!
I wasn’t matched betting! Hopefully you can all see what and why I was doing it now!
Too true. When I was Arbing (with my personal accounts) I was left with only b365. They were allowing me to place £1000-2000 bets, several times a day, every day. Reason = coz Issa losing. They finally gave me the ‘letter’ posted above, and it was curtains. I got my yearly statement from them , and it was a joy to see–stakes of £343,000….returned £390,000. So I whipped them for £57k. This in fact was in a 6 month period (as statement runs April-April) and I was banned in September .and I kept the screenshot for proof! Multiple IDs are fine; as long as not in your name. If you go it in your and you’re playing with fire. I arbed an initial £10 bonus … Only to get re-asked for id and then rumbled . The withdrawal was for £350. Yea £350! You try losing a £10 bonus, when you’re trying to lose it! Never happens , and I kept trying to lose it and ended up with £350! Which they swiped, and handed my £10 deposit back saying “multiple account”, bla bla. I posted a video on my Twitter , how to wipe iesnare and the only other precautions you can take is= using Betfair on a separate device + dongles for multiple ID accounts…they, apparently, produce a different IP address each time you use them.
How do you know where significant gamble is unfolding before it happens?
What about option 4-move to Betdaq?
always worth a crack too yes
Having worked in the industry i just want to clear up a myth. Bookies do NOT close accounts just because they are winning accounts….
These decisions are based on an overall profile of your business, if you abuse offers your account will be closed. It amazes me when punters complain about not being able to get bets on to then arb on betfair. This is a practice that is not welcome in the industry and hence why accounts are being closed.
Hi Rich. Waffle mate, they close them because they are taking value… Bookies routinely offer horrendous value under false pretences and stop exchanges from being promoted, if you work in the industry you’ll know this. I didn’t take any offers and even if I did; it’s an offer. Ludicrous. If it’s not welcome in the industry then don’t offer it, failing that get a better business model.
Bollocks.. I have had three multiple accounts in this past year restricted as soon as deposit was made.
Racebets actually didn’t restrict at point of deposit but as soon as I tried to place first bet..
Then I have had a few give me the qualifying bet then restrict me soon as the bonus was given.. Titan bet did this on 100 quid after my first bet won and took me to 350, then only allowing around 60p bets with 7 days to clear the 1000+ wager requirement.
These people are not only acting defensively but are being way to trigger happy in the process.
Funnily enough now I use 3 devices and keep my betfair on a device totally seperate to any bookies webpages I am having FAR less problems.
People get restricted or banned due to having evidence of or following links from matched betting sites and or exchanges.
I see it often over at the matched betting blog run by Matt that people are coming back stating that they had just followed his guide a signed up with X bookie only to be restricted straight away! this is due to him telling newbies to “click this link to take advantage of this offer”.
By doing so the bookie knows exactly where you have just come from as it show his address in the link or even if you had visited the site and opened a new tab it will still show due to your browsers history and cache etc.
I pulled him up on this only for my comments to get deleted! probably because he makes money through people using the links??
I have two browsers on one laptop, one for the exchanges and one for bookies and have never had an issue.
Hope this help someone.
I’m sure you have, but have you ever tried backing and laying between Betfair and other exchanges such as Smarkets or Betdaq? Maybe that is a way around Betfair charges.
Edge is lost due to paying double commission.
Hi Caan, I was wondering if matched betting activity can have an affect on odds movements ie price boosts and close matches on the oddsmatching software and could anything related to match betting give an indication of odds drifting, thank you
MB is a good earner and once you get the hang of it then you are laughing. I find the best way to avoid getting my account closed down is to transfer my winnings from the bookie to the bet exchange. We know the exchanges don’t care if you win/withdraw where as the bookies clearly do as they will be out of pocket.
Basically I treat the bookie as a sort of insurance once I have profits to get out of the bookies account. I purposely try to lose the money with them and then win it with the exchange using matches that are almost definitely going to go against you.
It may cost a few more percent but at least I don’t lose my account